The Nigerian Education Loan Fund (NELFUND) has issued a fresh warning to students and the public over fraudulent online platforms falsely advertising access to its interest-free student loan scheme.
The warning follows the circulation of a fake notice claiming the existence of a new 2026 registration portal, which NELFUND described as misleading and designed to scam unsuspecting applicants.
In a statement posted on its official X (formerly Twitter) handle, the agency urged Nigerians to verify all information strictly through its verified communication channels and avoid unverified links circulating online.
The organisation cautioned that scammers are increasingly exploiting public interest in the student loan programme to spread misinformation and collect personal data.
NELFUND specifically disowned a viral message claiming that President Bola Tinubu had directed the immediate opening of a new registration portal for cash transfers and loan applications, describing the claim as entirely false.
According to the agency, the fraudulent link being shared as an official registration portal has no connection to the government-backed scheme and should be disregarded.
NELFUND noted that this is not the first attempt by fraudsters to exploit its operations, adding that similar scams were recorded in 2025, often involving fake announcements about portal reopenings or promised cash disbursements.
The student loan programme operates under the Student Loan Act 2024, signed into law by President Tinubu, and is designed to provide interest-free financial support to eligible students.
The scheme covers tuition fees and monthly upkeep allowances, with repayment scheduled to begin two years after completion of the National Youth Service Programme.
NELFUND reiterated that all legitimate updates regarding applications, deadlines, and procedures will only be released through official government platforms, urging students to remain cautious and report suspicious links.
The agency also emphasized that safeguarding applicants’ data and preventing fraud remains a key priority as demand for the programme continues to grow nationwide.
